Redmont Wealth Advisors LLC Purchases Shares of 44,475 Invesco S&P 500 Equal Weight ETF $RSP

Redmont Wealth Advisors LLC bought a new position in shares of Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 44,475 shares of the company’s stock, valued at approximately $8,437,000. Invesco S&P 500 Equal Weight ETF accounts for approximately 11.7% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Investment Counsel Co. of Nevada bought a new position in Invesco S&P 500 Equal Weight ETF in the second quarter valued at approximately $29,000. Tompkins Financial Corp bought a new stake in Invesco S&P 500 Equal Weight ETF during the 3rd quarter worth approximately $32,000. IMA Advisory Services Inc. bought a new position in Invesco S&P 500 Equal Weight ETF during the 3rd quarter worth $33,000. GoalVest Advisory LLC acquired a new position in shares of Invesco S&P 500 Equal Weight ETF in the second quarter worth approximately $34,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Invesco S&P 500 Equal Weight ETF in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

Invesco S&P 500 Equal Weight ETF Price Performance

NYSEARCA RSP opened at $203.57 on Thursday. The business has a 50 day simple moving average of $197.23 and a 200 day simple moving average of $191.35. The stock has a market capitalization of $84.42 billion, a P/E ratio of 20.10 and a beta of 0.99. Invesco S&P 500 Equal Weight ETF has a one year low of $150.35 and a one year high of $205.24.

About Invesco S&P 500 Equal Weight ETF

Guggenheim S&P 500 Equal Weight ETF, formerly Rydex S&P 500 Equal Weight ETF, seeks to replicate as closely as possible, the daily performance of the S&P 500 Equal Weight Index (the Index). The Index is a capitalization-weighted index covering 500 industrial, utility, transportation and financial companies of the United States markets (mostly NYSE Euronext issues). The Index utilizes quarterly rebalancing to maintain its equal-weight stance. Under normal circumstances, the Fund will invest at least 90% of its net assets, plus any borrowing for investment purposes, in the equity securities (and derivatives thereof) included in the Index.